Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0165%/8h= −18.1% APRpaid last 24h +0.006%

Price spread now: QFEX against BloFin−0.181%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and QFEX is 0.181% cheaper against BloFin than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NOW-USDT	137.97	0.0165	pay 0.0165% / 8h	5h 46m	—	$17K	20x
Short	QFEX NOW-USD	137.72	0	get 0.0000% / 1h	46m 42s	$1.1M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee QFEXbpOrdersPrice spread, now −0.181%Rate

Funding earned: −$34.72
Price spread: −0.181% → 0.000%: −$18.12
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$74.84
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: no order-book sample; QFEX: live order book, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin no order-book sample	—	—	—	—	—
Sell QFEX live order book, 5 min ago	2.54 bp	7.6 bp −$8	14.7 bp −$147	doesn't fit	doesn't fit

BloFin: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NOW on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NOWUSDT	0.0000%	8h	138.80	+0.600%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	138.01	+0.029%	$489K	$228K	20x	as long as short
QFEX NOW-USDshort	0.0000%	1h	137.72	−0.181%	$1.1M	$1.9M	10x
Gate NOW_USDT	0.0000%	8h	137.96	−0.007%	$249K	$367K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.93	−0.029%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.95	−0.014%	$895	$387K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.93	−0.029%	$5K	$30K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.88	−0.065%	$5K	$178	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.326%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.73	−0.174%	—	—	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	137.79	−0.130%	$318K	$645K	20x	as long as short
BloFin NOW-USDTlong	+0.0165%	8h	137.97	long leg	—	$17K	20x
Binance NOWUSDT	+0.0177%	8h	137.99	+0.015%	$1.8M	$1.4M	20x	as long as short
Bybit NOWUSDT	+0.0190%	8h	137.93	−0.029%	$1.6M	$4.9M	25x	as long as short
tradeXYZ xyz:NOW	+0.0425%	1h	137.80	−0.123%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0577%	8h	137.94	−0.018%	$211	$152K	10x	as long as short